Post-shutdown, workers’ compensation insureds struggle with new risks

Players in the workers’ compensation market have been busy the past six months as the coronavirus pandemic has wreaked havoc on businesses, physical workplaces, and employees. The National Council on Compensation Insurance (NCCI), for example, has made several COVID-related changes during this period, including collecting payroll for furloughed workers so that it wouldn’t be used in the premium

Read more

ZSE launches online trading platform: ZSE Direct

ZSE launches online trading platform: ZSE Direct

Staff Reporter

The Zimbabwe Stock Exchange Limited (“ZSE”) has launched “ZSE Direct”, a  new  platform,  specifically  designed  for  the  retail investor, aiming to provide retail investors with a smart way to manage their ZSE investments and  view  their  CSD  holdings remotely.
ZSE  Direct  will  complement  the platforms

Read more

10 factors to consider before buying a car insurance policy

Car insurance is an insurance plan that offers the needful financial cover to the vehicle against different forms of damages, theft, stolen and the third party liability as well. While having a valid car policy is must, one should be mindful before buying it.

Here are key factors to consider before buying a car insurance policy:

Coverage

Different insurance products offer different coverage. Hence,

Read more

Fidelity Life shelves plans to raise capital

Zimbabwe Stock Exchange-listed insurance concern Fidelity Life Assurance Zimbabwe has cancelled plans to raise fresh capital.The development comes on the heels of last week’s announcement by Zimre Holdings Limited (ZHL) that it had entered into an agreement with the National Social Security Authority (NSSA) for the purchase of its 35,09 percent stake in Fidelity Life.

ZHL

Read more

Woman Who Cut Off Hand in Attempt to Commit $1 Million Insurance Fraud Sentenced to Prison

One woman and her boyfriend showed what lengths they would travel to secure over $1 million.

Per TMZ, a Slovenian woman named Julija Adlesic and her boyfriend strung together a plan to collect the multiple insurance policies that they had taken out on her. The couple reportedly had at least five insurance policies on the woman that totaled around $1.16 million.

To secure this money, the couple

Read more

COVID-19 impact: Here’s why insurance may never be the same again

The insurance companies too have now started to create products for a world where such virus outbreaks could become the new normal after many businesses were left out in the cold during the COVID-19 crisis.

At a larger scale, the introduction of pay-as-you-use is probably a significant shift in the history of motor insurance in India as it seeks to become more responsive to the usage (and consequently) needs of the customers. (Image source: Getty) 

Recent outbreak of diseases like COVID-19 has led to more awareness among people

Read more

Does Life Insurance Cover Suicide?

Even when a suicidal person holds a life insurance policy, the undoubtedly twisting decision to end one’s life offers no easy financial answers to care for those we love. Insurers pay out in some instances, but some contractual disqualifiers exclude a death benefit paid to policy beneficiaries.

When does life insurance cover suicide?

After the contestability and suicide clauses in an individual’s life insurance policy expire, life

Read more

Insurance market Lloyd’s of London swings to loss after $3 billion in coronavirus claims

  • The company’s Chairman Bruce Carnegie-Brown told CNBC on Thursday that Lloyd’s’, whose results are an aggregate of more than 90 syndicate members, expects to pay around £5 billion in coronavirus-related claims over the course of the year.
  • Insurers around the world have been hammered by the pandemic, with Lloyd’s estimating earlier this year that non-life insurers would face a global bill of more than $100 billion in payouts for disruption to travel, business, events, trade and more.
The interior of Lloyd’s of London, the centuries-old insurance market, is pictured in central London on April 27, 2016.
Leon Neal | AFP | Getty Images

Insurance marketplace Lloyd’s of London posted a first-half pre-tax loss of £400 million ($520.08 million) on Thursday, on the back of £2.4 billion in coronavirus-related payouts so far this year.

The loss compares with a profit of £2.3

Read more